AccountsCashAccounts ReceivablePrepaid RentSuppliesEquipmentAccumulated DepreciationAccounts PayableSalaries PayableInterest PayableNotes Payable (due in two years)Common StockRetained EarningsService RevenueSalaries ExpenseRent ExpenseDepreciation ExpenseInterest ExpenseTotalsCredit$ 129,00011,40010,4004,40034,000240,00054,000440,000340,00017,00034,0004,400$923,200 $923,200Debit$11,400144,0005,40027,000340,000 What is the amount of total assets?398,800598,000613,000493,000

Total assets are a combination of current and non-current assets. To determine the total assets of a…

Answered: What is the amount of total assets?…

Business

Accounting

What is the amount of total assets? 398,800 598,000 613,000 493,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Accounts
Cash
Accounts Receivable
Prepaid Rent
Supplies
Equipment
Accumulated Depreciation
Accounts Payable
Salaries Payable
Interest Payable
Notes Payable (due in two years)
Common Stock
Retained Earnings
Service Revenue
Salaries Expense
Rent Expense
Depreciation Expense
Interest Expense
Totals
Credit
$ 129,000
11,400
10,400
4,400
34,000
240,000
54,000
440,000
340,000
17,000
34,000
4,400
$923,200 $923,200
Debit
$11,400
144,000
5,400
27,000
340,000

What is the amount of total assets?
398,800
598,000
613,000
493,000

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